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News on Medial
Nazara Shares Jump Over 12% Following Sportskeeda’s US Foray
Inc42
·
1y ago
Medial
Shares of Nazara Technologies, a gaming major, surged by 16.8% to INR 814 in early trading on the BSE. The shares opened at INR 714.15, higher than the previous closing of INR 697. This spike follows Nazara Technologies' subsidiary Absolute Sports entering the US market by acquiring assets from entertainment news site Soap Central, based in Pennsylvania.
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TIMF Holdings Buys 12 Lakh Shares Of Nazara In INR 105 Cr Bulk Deal
Inc42
·
1y ago
Medial
TIMF Holdings, owned by US-based Think Investments, acquired shares from Gyaana Retreat and Services, Fashion Brands, and Parijata Trading at INR 872 apiece. NODWIN Gaming's decision to increase their stake in Freaks 4U Gaming to 100% resulted in a 7% jump in shares of Nazara on June 28.
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Sportskeeda’s parent Absolute Sports acquires assets of SoapCentral.com
Entrackr
·
1y ago
Medial
Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, is close to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of $1.4 million about Rs 11.6 crore and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of $621,000 about Rs 5.2 crore. Absolute Sports will use its cash reserves to fund the transaction. This is the second acquisition for Absolute Sports in the US sports media market. Earlier this year, Absolute Sports had acquired a 73.27% stake in US-based Pro Football Network LLC. Absolute Sports, via its flagship brand Sportskeeda, covers sports and esports subjects and serves more than 100 million fans every month. In 2019, Nazara, listed on the stock exchanges, picked up a majority stake in the company, which was then a 10-year old business. With more than an average of 5 million unique monthly active users, Pro Football Network is widely recognized as one of the NFL-focused sports sites in the country. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner. The company expects to unlock synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.
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Former Reckitt Benckiser CEO’s firm debuts with bet on coffee chain
VCCircle
·
1y ago
Medial
Former Reckitt Benckiser CEO Rakesh Kapoor's consumer investment firm, 12 Flags, has made its first investment in an Indian coffee chain brand. Kapoor, who spent over three decades at Reckitt Benckiser, has chosen to back this homegrown coffee brand alongside other notable investors. This move marks Kapoor's foray into the Indian market following his departure from the multinational consumer goods company.
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New-Age Tech Stocks Lose Over $2 Bn In M-Cap Amid Bloodbath On D-Street
Inc42
·
1y ago
Medial
Shares of Nazara Technologies and Zaggle, two prominent companies in the gaming and fintech sectors respectively, saw a significant decline of over 7% each. This decline is in line with the overall decrease in the market capitalization of 25 new-age tech stocks, reflecting the global market's concerns over a potential US recession and geopolitical tensions.
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Nazara Jumps 9% Intraday After NODWIN Acquires 100% Stake In Freaks 4U
Inc42
·
1y ago
Medial
Shares of Nazara, an Indian gaming company, saw a 9% increase before slightly dipping. NODWIN Gaming announced plans to increase its stake in Freaks 4U Gaming GmbH to 100% through a share swap worth INR 271 Cr. Nazara shares have been on the rise, gaining over 32% since May 25.
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Zomato Allots 10.88 Cr ESOPs Ahead Of Q3 Earnings
Inc42
·
1y ago
Medial
Foodtech major Zomato has allocated 10.88 crore equity shares under its Employee Stock Option Plans (ESOPs) ahead of its Q3 FY24 earnings. The company's ESOP 2021 received the highest allotment of over 9 crore shares, while ESOP 2018 saw an allotment of 1.67 crore shares. This allotment will increase the company's issued, subscribed, and paid-up share capital to around INR 882 crore from INR 871.1 crore previously. Zomato's stock saw a 4% jump during intraday trading following this news.
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Aarti Drugs shares rose 12% in fag end of trade today, here's why
Business Today
·
5m ago
Medial
Aarti Drugs shares surged 12.58% to Rs 431.50 following the removal of the US FDA import alert 66-40, allowing exports to the US market. Previously priced at Rs 383.25 on the BSE, the company's market cap rose to Rs 3,749.83 crore. Products permitted for US export include Ciprofloxacin HCl API and others. The inspection happened from September 12-20, 2024, at their Tarapur, Maharashtra facility.
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Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn
Entrackr
·
10m ago
Medial
Gaming firm Nazara has announced an investment of Rs 982 crore in PokerBaazi’s parent company, Moonshine Technology, to acquire a majority stake through a mix of secondary and primary share purchases. Nazara’s board has approved the acquisition of 18,96,674 equity shares of Moonshine from existing shareholders, including PSM Group, Bellerive Capital, and other individuals, via a secondary purchase, according to a disclosure sourced from the National Stock Exchange. The Mumbai-based company will acquire a 47.7% stake for a total consideration of Rs 832 crore ($100 million), which includes a secondary purchase of Rs 592 crore and a share swap valued at Rs 239 crore. As part of the deal, Nazara will also invest Rs 150 crore to purchase primary shares of Moonshine. This additional investment will make Nazara as the majority stakeholder in PokerBaazi. This deal represents one of the largest consolidations in the poker space, which is considered a skill-based gaming segment. PokerBaazi accounts for over 85% of Moonshine’s net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. As of May 2024, PokerBaazi reported approximately 340,000 monthly active users. Entrackr reached out to PokerBaazi and Nazara Games last month with a detailed questionnaire regarding the deal. At that time, PokerBaazi’s spokesperson dismissed the news as fake, while Nazara’s spokesperson referred to it as mere speculation. Nazara has been on an acquisition and investment spree since FY25, having acquired or invested in six startups over the past few months. Earlier this week, it acquired a 15.86% stake in e-sports startup Stan. Last month, it acquired UK-based Fusebox Games for $27.2 million in an all-cash transaction. Additionally, Nazara acquired Kiddopia’s developer Paper Boat Apps, secured IP rights for Ultimate Teen Patti, and took over assets of DeltiasGaming.
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Nazara Technologies block deal: Rakesh Jhunjhunwala linked entity sells 13 lakh shares worth Rs 159 crore
Economic Times
·
1m ago
Medial
Rakesh Jhunjhunwala’s estate sold 13 lakh shares of Nazara Technologies worth ₹159 crore in a block deal, valued at Rs 1,225.19 each, slightly below the previous closing price. Post-sale, Nazara's shares surged to a new high, indicating strong investor confidence. The company, operating in gaming, esports, and ad-tech, reported a 90% year-on-year profit growth for Q4FY25 and a 95% revenue increase. Nazara has outpaced the Nifty, delivering significant returns over the year.
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Apple, Tesla, other tech stocks see historic gains after Trump pauses tariffs
Economic Times
·
3m ago
Medial
Global stocks rallied after President Trump announced a pause on recently imposed tariffs, notably benefiting tech stocks. The Nasdaq Composite surged over 12%, its second-best day ever. Apple gained over 15% following a tough period, despite ongoing concerns over tariffs on China, its manufacturing hub. Tesla, Nvidia, and Meta Platforms also saw significant increases, alongside Amazon, Microsoft, and Alphabet. Asian markets, particularly Japan, echoed this surge following the US market's historic gains.
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